LVAdmin

Comprehensive Defined Benefit Administration System

LVAdmin is a complete defined benefit administration system designed for small, medium, and large pension plans and used by both plan sponsor HR departments and third party administrators (TPAs). Most plan provisions are supported by the parameter driven menus including cash balance plans, contributory plans, multiple formulas, different provisions per employee group, and DROP provisions. Complex and unusual provisions can be easily handled with entry point programming (EPP) which adds unlimited flexibility. The administration system also includes several utilities such as:

Detailed audit trail for selected fields identifying which user is responsible for a modification and when it occurs

Automated import routine for ongoing participant and payroll data

Internal security identifying which fields are hidden, which are viewed, and which can be changed by each user

Participant data and benefit calculations stored by LVAdmin are accessible by the entire Lynchval product suite. LVAdmin provides benefit amounts to be processed in LVPay and the data and calculations displayed by LVWeb.

FEATURES

Determines calculations for retirement, death, disability, and other termination benefits

Actual service history and salary history stored in the database

Automatically applies IRS requirements such as salary caps under §401(a)(17) and maximum benefit limitations under §415 for qualified plans

All calculations and estimates are stored in the database for future reference